Zebra Technologies Corp. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Zebra Technologies Corp. filed its quarterly report (10-Q) for the period ending March 30, 2024, detailing its financial performance and operational status.</b>

AI Summary

ZEBRA TECHNOLOGIES CORP (ZBRA) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Zebra Technologies Corp. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Zebra Technologies Corp. is classified under SIC code 3560 (General Industrial Machinery & Equipment). The filing was made on April 30, 2024.

Why It Matters

For investors and stakeholders tracking ZEBRA TECHNOLOGIES CORP, this filing contains several important signals. This 10-Q filing provides investors with an updated view of Zebra Technologies' financial health and operational performance for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current standing and future prospects in the industrial machinery and equipment sector.

Risk Assessment

Risk Level: low — ZEBRA TECHNOLOGIES CORP shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in this sector.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue trends and operational efficiency for Q1 2024.

Key Numbers

• 2024-03-30 — Period End Date (Quarterly report period)
• 2024-04-30 — Filing Date (Date the report was filed)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period)
• 12/31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• ZEBRA TECHNOLOGIES CORP (company) — Filer name
• 2024-03-30 (date) — Period of report
• 2024-04-30 (date) — Filed as of date
• 3560 (industry_code) — Standard Industrial Classification
• LINCOLNSHIRE (location) — Business address city
• IL (location) — Business address state
• 60069 (postal_code) — Business address zip
• 847-634-6700 (phone_number) — Business phone

FAQ

Industry Context

Zebra Technologies Corp. operates in the industrial machinery and equipment sector, providing a range of products and services for enterprise asset intelligence.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Analyze the revenue breakdown by segment (Tangible Products vs. Service and Software) for Q1 2024.
2. Review any disclosures related to changes in accounting policies or significant financial events.
3. Compare key financial metrics from this 10-Q with previous filings to identify trends.

Key Dates

• 2024-03-30: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date Zebra Technologies Corp. submitted its 10-Q filing.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous fiscal year-end report (10-K).

Filing Documents

• zbra-20240330.htm (10-Q) — 1003KB
• exhibit10thirdamendmentt.htm (EX-10) — 8KB
• ex311-signedq12024.htm (EX-31.1) — 9KB
• ex312-signedq12024.htm (EX-31.2) — 9KB
• ex321-signedq12024.htm (EX-32.1) — 4KB
• ex322-signedq12024.htm (EX-32.2) — 4KB
• exhibit10thirdamendmentt001.jpg (GRAPHIC) — 250KB
• exhibit10thirdamendmentt002.jpg (GRAPHIC) — 205KB
• exhibit10thirdamendmentt003.jpg (GRAPHIC) — 82KB
• exhibit10thirdamendmentt004.jpg (GRAPHIC) — 66KB
• exhibit10thirdamendmentt005.jpg (GRAPHIC) — 106KB
• 0000877212-24-000063.txt (&nbsp;) — 6789KB
• zbra-20240330.xsd (EX-101.SCH) — 38KB
• zbra-20240330_cal.xml (EX-101.CAL) — 79KB
• zbra-20240330_def.xml (EX-101.DEF) — 165KB
• zbra-20240330_lab.xml (EX-101.LAB) — 518KB
• zbra-20240330_pre.xml (EX-101.PRE) — 368KB
• zbra-20240330_htm.xml (XML) — 782KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 3 Consolidated Balance Sheets as of March 30, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations (unaudited) for the three months ended March 30, 2024 and April 1, 2023 4 Consolidated Statements of Comprehensive Income (unaudited) for the three months ended March 30, 2024 and April 1, 2023 5 Consolidated Statements of Stockholders' Equity (unaudited) for the three months ended March 30, 2024 and April 1, 2023 6 Consolidated Statements of Cash Flows (unaudited) for the three months ended March 30, 2024 and April 1, 2023 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 7 Note 1: Description of Business and Basis of Presentation 8 Note 2: Significant Accounting Policies 8 Note 3: Revenues 8 Note 4: Inventories 9 Note 5: Investments 9 Note 6: Exit and Restructuring Costs 9 Note 7: Fair Value Measurements 10 Note 8: Derivative Instruments 11 Note 9: Long-Term Debt 13 Note 10: Leases 14 Note 11: Accrued Liabilities, Commitments and Contingencies 15 Note 12: Income Taxes 15 Note 13: Earnings Per Share 16 Note 14: Accumulated Other Comprehensive (Loss) Income 16 Note 15: Accounts Receivable Factoring 17 Note 16: Segment Information & Geographic Data 17

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Overview 18 Results of Operations 20 Results of Operations by Segment 22 Liquidity and Capital Resources 23 Significant Customers 25 Safe Harbor 26 New Accounting Pronouncements 26 Non-GAAP Measures 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

Other Information

Item 5. Other Information 28

- OTHER INFORMATION

PART II - OTHER INFORMATION 28

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 30 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except share data) March 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 127 $ 137 Accounts receivable, net of allowances for doubtful accounts of $ 1 each as of March 30, 2024 and December 31, 2023 599 521 Inventories, net 705 804 Income tax receivable 36 63 Prepaid expenses and other current assets 160 147 Total Current assets 1,627 1,672 Property, plant and equipment, net 304 309 Right-of-use lease assets 166 169 Goodwill 3,894 3,895 Other intangibles, net 501 527 Deferred income taxes 455 438 Other long-term assets 312 296 Total Assets $ 7,259 $ 7,306 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 272 $ 173 Accounts payable 467 456 Accrued liabilities 437 504 Deferred revenue 456 458 Income taxes payable 11 7 Total Current liabilities 1,643 1,598 Long-term debt 1,815 2,047 Long-term lease liabilities 151 152 Deferred income taxes 66 67 Long-term deferred revenue 304 312 Other long-term liabilities 111 94 Total Liabilities 4,090 4,270 Stockholders' Equity: Preferred stock, $ .01 par value; authorized 10,000,000 shares; none issued — — Class A common stock, $ .01 par value; authorized 150,000,000 shares; issued 72,151,857 shares 1 1 Additional paid-in capital 629 615 Treasury stock at cost, 20,751,889 and 20,772,995 shares as of March 30, 2024 and December 31, 2023, respectively ( 1,858 ) ( 1,858 ) Retained earnings 4,447 4,332 Accumulated other comprehensive loss ( 50 ) ( 54 ) Total Stockholders' Equity 3,169 3,036 Total Liabilities and Stockholders' Equity $ 7,259 $ 7,306 See accompanying Notes to Consolidated Financial Statements. 3 Table of Contents ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share data) (Unaudited) Three

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1 Description of Business and Basis of Presentation Zebra Technologies Corporation and its subsidiaries ("Zebra" or the "Company") is a global leader providing innovative Enterprise Asset Intelligence ("EAI") solutions in the automatic identification and data capture solutions industry. We design, manufacture, and sell a broad range of products and solutions, including cloud-based software subscriptions, that capture and move data. We also provide a full range of services, including maintenance, technical support, repair, managed and professional services. End-users of our products, solutions and services include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries. We provide our products, solutions and services globally through a direct sales force and an extensive network of channel partners. Management prepared these unaudited interim consolidated financial statements according to the rules and regulations of the Securities and Exchange Commission for interim financial information and notes. As permitted under Article 10 of Regulation S-X and the instructions of Form 10-Q, these consolidated financial statements do not include all the information and notes required by United States Generally Accepted Accounting Principles ("GAAP") for complete financial statements, although management believes that the disclosures made are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2023. In the opinion of the Company, these interim financial statements include all adjustments (of a normal, recurring nature) necessary to fairly present its Consolidated Balance Sheet as of March 30, 2024, the Consolidated Statements of Operations, Co

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View this 10-Q filing on SEC EDGAR